Probably not.
But advances in search-engine accuracy and the growing popularity of RSS feeds have helped users more effectively zero-in on relevant bits of information and spend less time “browsing” through pages of a site.
A Web site’s index page used to carry much more weight, I think. The “home page” design was typically prioritized above everything else, regarded as the first thing users would view when visiting your site. Its over-emphasized importance a relic of print-era thinking, the digital equivalent of the magazine cover —people spend a couple seconds on it then move on.
But the comparisons to print have always been a bit stupid. The Web isn’t print, nor is it static in form. It’s a interactive medium that changes. The idea of a single point of entry into a site or linear path of navigation taken by every user is actually quite ridiculous. The thoughtful design of secondary and tertiary pages are arguably more important. Just take a look at your site analytics to better understand where your visitors are spending the bulk of their time.